Cushman & Wakefield announced that Trinity Broadcasting
Network, the world's largest religious television network, has
purchased The Century Center for the Performing Arts at 111 E. 15th St.
from Theater First Foundation.

The Century Center for the Performing Arts is a 15,000 s/f,
248-seat building, located between Union Square East and Irving Place in
the heart of Union Square.

The space will serve as Trinity Broadcasting Network's first
production studios in the New York City area. The company will utilize
the venue as a live broadcast center for its programming.

Although no price was disclosed, Globe St. reported it was north of
$13 million.

Yoav Oelsner, Charles Kingsley, Jon Epstein and Glenn Tolchin of
Cushman & Wakefield's Capital Markets Group represented the
seller, Theater First Foundation, and David Rosenbloom, a senior
director in the firm's Midtown Manhattan office, represented the
purchaser, Trinity Broadcasting Network. "The Union Square
neighborhood is a thriving cultural, business and educational hub,"
said Oelsner, a senior director at Cushman & Wakefield.
"Trinity Broadcasting Network fits right in to this vibrant
community that is known for its diversity, creativity and one of the
city's most popular parks."

"The Century Center for the Performing Arts is equipped with
three main theatrical production spaces, including a theater that can
seat about 300 people, a ballroom and a studio," said Rosenbloom.
"These unique features will be useful for Trinity Broadcasting
Network's production studios."

Trinity Broadcasting Network offers 24 hours of commercial-free
inspirational programming that appeals to Protestant, Catholic and
Messianic Jewish denominations. The company reaches every major
continent, with 47 satellites and 12,000 television and cable
affiliates. Trinity Broadcasting Network currently operates 3,000
television stations globally, and is the seventh-largest broadcast group
owner in the U.S.

The Center for the Performing Arts, a historic landmark originally
built in 1847 by architect Henry Hobson Richardson, was the original
home of the Century Association, a members-only club of distinguished
New Yorkers, including former Presidents Franklin Roosevelt and Theodore
Roosevelt.

The building received a complete renovation project in 1996 that
faithfully restored the late nineteenth century to its original
grandeur.

Prominent neighbors include New York University, New School
University.

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